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Recent research has shown that buy to let investors can improve their rental yields by ensuring that WIFI connectivity in the property is good.
The research from real estate connectivity certifications provider WiredScore and the HomeOwners Alliance has found that two-thirds of residential developers can rent properties with good connectivity services at a higher price and/or with a greater yield.
It was found that 85 per cent of British renters and homeowners still face connectivity issues and failing services, forcing them to use an additional 2.5GB of extra mobile data each month to compensate for their poor WiFi – this additional cost totals £2.2 billion across the nation.
Despite consumers paying an average of £312 for their home internet service, this additional cost is being incurred by users trying to overcome regular connectivity issues and failing services – typically totalling 20 service breakdowns per month. It’s perhaps no surprise that over a quarter of British homeowners and renters (28 per cent) would not have moved into their property if they’d known about the connectivity issues they face.
There are clear commercial benefits of good digital connectivity services:
- Two-thirds (61 per cent) of residential developers report they can rent their properties at a higher price and/or with a greater yield
- Two-fifths (40 per cent) see an increased demand for their properties
- More than half (56 per cent) report they can rent their properties for longer, due to the improved in-home experience
With new developers making the effort to install greater WIFI connectivity in new buildings, the onus is on the buy to let private landlord to ensure that they can compete on an equal level.
President and EMEA MD at WiredScore, William Newton, commented: ‘Connectivity is critical to almost every aspect of our lives – social, leisure and working – with most adult internet users typically spending 24 hours online each week – almost double the time spent in 2007. The residential development community has long shouldered the important responsibility of maintaining and improving residential digital infrastructure in line with a rapid growth in consumer demand.’